Tree Huggers

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Latin American banks still slow to protect the environment, report finds (news.mongabay.com)

submitted 3 days ago by wolfyvegan@slrpnk.net to c/treehuggers@slrpnk.net

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Across Latin America, banks have failed to integrate sustainability regulations into lending, bond issuance and financial advisory services, according to a WWF sustainable finance assessment.

WWF examined the policies of 22 banks across Bolivia, Brazil, Chile, Colombia, Mexico and Peru, and found that the countries’ financial sectors had largely failed to implement protections against nature-related risks, such as deforestation and biodiversity loss.

Only six of the 22 banks have policies that acknowledge the “societal and economic risks” associated with environmental degradation, and just two of them have made net-zero carbon emission commitments for their lending portfolios.

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[–] A_S_B@slrpnk.net 1 points 2 days ago

Yeah, they do have the laws and regulation but just don´t apply it. In theory they need to check if the farmer has propriety of the land and that they are authorized to farm in that land but the banks rarely do so.